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InsurTech news

Insurance and reinsurance technology related news, focused on the wave of interest in InsurTech start-ups, investing in insurance technology initiatives, as well as reinsurance tech start-ups or ReinsurTech.

Swiss Re pilots satellite imaging for use in crop claim settlements

22nd February 2019

Global reinsurance giant Swiss Re has piloted the use of satellite imaging in the claim settlement process of its crop insurance scheme, according to a report by The Hindu Business Line. The use of satellite imaging can reportedly be used to quickly estimate the drought level or soil moisture content level ... Read the full article

SCOR Life & Health invests in startup HumanAPI

21st February 2019

SCOR Life & Health Ventures, a division of the France-headquartered reinsurer, has invested in health data consolidation platform HumanAPI as SCOR Global Life looks for ways to streamline the life insurance underwriting process. HumanAPI is a San Francisco-based company that allows a consumer to centralise and share their health data (from sources ... Read the full article

Eurobase’s synergy2 platform delivered in step with London Market TOM

21st February 2019

Eurobase International Group, an international software and service provider to financial institutions, has announced that its Synergy2 platform is the first to go into production with integrated Structured Data Capture (SDC), allowing for the delivery of straight-through processing for risk creation via the Global Placement Message (GPM). SDC is an online ... Read the full article

InsurTech incubator Nassau Re/Imagine launches

21st February 2019

Nassau Re has announced the establishment of an InsurTech incubator, Nassau Re/Imagine, launched to assist selected start-ups focused in life insurance, annuity and reinsurance industries. The reinsurer's new InsurTech incubator is to be based in its Boat Building headquarters in Hartford, Connecticut, and will provide complimentary office space as well as business ... Read the full article

Allianz X gets €1bn funding for global tech investments

20th February 2019

The success of Allianz Group’s digital investment unit Allianz X has resulted in it receiving an increased funding allocation of €1 billion. The investment from Allianz SE is designed to facilitate investments into companies globally that represent a strategic relevance to the Group. Allianz X is now one of the largest European ... Read the full article

Prima Solutions-Effisoft enhances WebXL reinsurance software

18th February 2019

Prima Solutions-Effisoft Group, an insurtech firm that designs software for insurance and reinsurance professionals, has released an updated version of its WebXL solution, which optimises ceded property-casualty and life reinsurance management. WebXL 4.3 includes several new features to help reinsurers deal with increased natural disaster occurrence, including improved management of the ... Read the full article

RLI to leverage machine learning with InsurTech partnership

18th February 2019

Specialty re/insurer RLI Corporation is partnering with InsurTech startup DataCubes as it explores ways to automate intake forms and intelligence gathering and move beyond the manual, time-consuming processes currently in place. DataCubes’ computer vision and machine learning platform is able to automatically digitise lengthy and complex insurance submission documents - including ... Read the full article

SCOR Global Life partners with wearable tech firm on health insights

18th February 2019

SCOR Global Life, a division of the France-headquartered reinsurer, has partnered with wearable technology provider Garmin Health in the Asia Pacific region to improve its underwriting insights and promote better lifestyle choices for consumers. By analysing the health metrics generated by Garmin’s wearable devices, SCOR will be able to enhance its ... Read the full article

UK government backs AI projects for insurance industry

15th February 2019

The UK government has announced that it plans to invest in 40 artificial intelligence (AI) and data analytics projects to boost productivity and improve customer service in the UK insurance, accountancy, and legal services industries. The government has pledged £13 million to support these collaborative industry and research projects and develop ... Read the full article

Gen Re develops facial analytics app for insurance buyers

14th February 2019

Global reinsurer Gen Re has developed a new mobile application that uses facial analytics technology to help customers purchase Life, Hospital Cash and Accidental Death insurance policies. The NOW app uses technology by Lapetus Solutions to quickly estimate factors such as a user’s age, gender and BMI based on an uploaded ... Read the full article

Commercial auto insurtech INSHUR gets $7m Series A led by Munich Re

13th February 2019

INSHUR, a 100% digital provider of commercial auto insurance, has raised a $7 million Series A funding round which was led by Munich Re Ventures, the insurtech investments arm of the reinsurer. INSHUR secured $7 million of equity funding from the Series A round, as well as a further $2 million ... Read the full article

Insurtech funding surges in 2018 as key players expand: Deutsche Bank

8th February 2019

Insurtech investment volumes increased by more than 60% between 2017 and 2018, while key players such as Lemonade and Amazon also expanded their operations over the year, according to analysts at Deutsche Bank. Deutsche Bank data shows that insurtech investments (across all stages) totalled US $2.6 billion during the first three ... Read the full article

BlackFin invests €2mn in launch of Descartes Underwriting insurtech

6th February 2019

BlackFin Capital Partners has invested €2 million in the launch of Descartes Underwriting, a new B2B insurtech company based in Paris. Descartes functions as a Managing General Agency (MGA) and works with brokers to underwrite insurance policies on behalf of first-tier re/insurance and insurance-linked securities (ILS) funds. The firm designs innovative insurance ... Read the full article

AXA targets China’s travel insurance market using WeChat app

6th February 2019

AXA is targeting the lucrative travel insurance market in China with a new offering that is integrated directly into the WeChat mobile app. More than one billion users in China alone use WeChat to access instant messaging and manage e-commerce services, making it the most popular app in the country. AXA plans ... Read the full article

ChainThat adds Rebecca Oliver as Business Development Director

6th February 2019

Specialist blockchain solutions firm ChainThat has announced the appointment of Rebecca Oliver as Business Development Director, a newly-created role. She brings over 25 years’ experience in the Lloyd’s of London, London and Global re/insurance markets and joins from Eurobase, where she served as Director of Insurance. Prior to that, Oliver held senior ... Read the full article

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